IBC organised a meeting on topical issues of tax legislation

On 20 February, the International Business Council (IBC) organised an information session in the format of IBC MeetUp, dedicated to changes in tax legislation and administration. The event was attended by representatives of government agencies, diplomatic missions, as well as IBC members and partners, which helped to strengthen public-private dialogue.

MDS Executive Director Askar Sydykov noted that the meeting was particularly relevant in connection with recent amendments to the Tax Code. During the event, representatives of the relevant government agencies spoke in detail about the innovations and answered business questions. Also discussed was the reduction of the list of goods that require the use of electronic waybills.

Deputy Chairman of the State Tax Service Kubanychbek Ysabekov presented the latest changes in the Tax Code, including the cancellation of universal declaration of individuals and ‘zero’ reports in the absence of tax liability. Tax incentives have also been introduced: exemption from income tax on the sale of waste paper and scrap metal, a 1% income tax rate for taxi drivers and couriers, and incentives for retail chains selling agricultural products.
The bonus for the use of underground water for agricultural needs has been cancelled for agricultural producers. The transition to a single tax for construction companies has been extended until 1 July 2025, and the tax rate for non-cash payments has been reduced from 6% to 4%.

In addition, work is underway to eliminate electronic waybills for a number of goods and supply chains.

Maria Nazarova, Director of Tax Affairs at Schneider Group, presented the experience of implementing electronic invoices and delivery notes in CIS countries. In Russia, the universal transfer document (UTD) combines the functions of an invoice and a delivery note, Armenia has a unified tax system, and Kazakhstan has established rules for issuing a consignment note for goods.

Among the advantages of digitalisation are the reduction of paper workflow, automated reporting, increased security of data storage and integration with accounting software.
At the end of the meeting, the participants discussed issues related to the taxation of transactions involving company shares, the interaction of telecom operators with the tax service, and the specifics of accounting for raw materials in warehouses. They also considered the criteria for defining small and medium-sized businesses and their impact on tax reporting.

Based on the results of the meeting, recommendations will be sent to the relevant government agencies to be taken into account in further work to improve tax legislation.